SkyWater Q1 revenue down 23% to $61.3M, EPS $(0.15); Q2 guidance weak

SkyWater Technology, Inc

2025-Q1 EPS reported -$0.15 revenue$61,296,000

Revenue $61.3M, down 23% YoY; ATS development $52.5M (-14%), Wafer Services $7.5M (-25%), Tools $1.2M (-86%).
GAAP net loss $7.3M ($0.15/shr) vs $5.7M loss YoY; Non-GAAP loss $3.7M ($0.08/shr).
Adjusted EBITDA $4.0M (6.6% margin) vs $4.9M (6.2%) YoY.
Q2 2025 guidance: revenue $55-60M, GAAP EPS loss $(0.20)-(0.26), non-GAAP EPS loss $(0.16)-(0.22).
Fab 25 acquisition from Infineon on track for mid-2025 close; backed by >$1B supply agreement.

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